Retail Insolvencies Loom


The Centre for Retail Research has claimed that 12,000 outlets could close in 2014, an increase of 2,000 over 2013. CRR director Professor Joshua Bamfield blamed the migration to online shopping and the cost of living squeeze.

He urged the Government to freeze business rates for two years and link them to turnover to allow newer and smaller retailers to survive. Begbies Traynor have also warned that 151 retailers are experiencing critical problems and that 15,792 have significant problems.

The Sunday Mirror carries a column from Sainsbury’s CEO Justin King where he makes the case for business rates (or an equivalent) to be imposed on online retailers “to level the playing field”.

The Sunday Mirror